Central Bank of Uzbekistan denies issuing 1 million soums banknote

Posts about the new banknote appeared on social media a few days before the denial. As Spot.uz writes, they were accompanied by a fake banknote design featuring the first president of Uzbekistan, Islam Karimov. The Central Bank called this information "unfounded, untrue, and fake" and urged people to seek reliable information on the bank's official pages.

Under the Law "On the Central Bank", the regulator determines the face value of banknotes and coins (Article 39). It also holds the exclusive right to issue banknotes and coins into circulation as legal tender (Article 40). The Central Bank approves samples and designs of new currency in consultation with the Kengash of the Senate of the Oliy Majlis, and publishes their descriptions and issuance information in the media in advance.

Currently, the largest banknote in the country is 200,000 soums. The Central Bank presented its design on July 13, 2022, two days before the banknote entered circulation. In May, the regulator already denied rumors about plans to issue a 500,000 soums banknote.